Business
Trade Spotlight: How should you trade AGI Infra, Zydus Lifesciences, Crompton Greaves, KIMS, Nazara Technologies, and others on May 18?
Trade Spotlight: How should you trade AGI Infra, Zydus Lifesciences, Crompton Greaves, KIMS, Nazara Technologies, and others on May 18?
About this update from Agi Infra Ltd.
The benchmark indices recorded losses of around two-tenths of a percent on May 15 following a couple of days of gains. Market breadth favoured the bears, with 1,914 shares declining against 1,016 advancing shares on the NSE. The market needs to deliver a sustainable close above the previous day's high for the upward journey. Below are some short-term trading ideas to consider:Rajesh Palviya, Senior Vice President Research (Head of Research) at Axis SecuritiesAGI Infra | CMP: Rs 419.15AGI Infra is in a strong uptrend across all time frames, as it continues to form higher tops and higher bottoms, indicating strength. On the weekly chart, the stock is trading within an “upward-sloping channel,” which reconfirms the bullish trend. On both the daily and weekly charts, the Bollinger Band buy signal indicates increased momentum.Rising volumes over the past three months indicate increased participation in every rally. The stock is sustaining above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs). These averages are also inching higher along with the price rise, which reconfirms bullish sentiment. The daily, weekly, and monthly Relative Strength Index (RSI) remains in favourable territory, indicating rising strength across all time frames.Strategy: BuyTarget: Rs 440, Rs 465Stop-Loss: Rs 394Crompton Greaves Consumer Electricals | CMP: Rs 301.95On the weekly chart, Crompton Greaves Consumer Electricals witnessed a breakout from a “double bottom” formation, confirming a short-term trend reversal. On both the daily and weekly charts, the stock is trending higher, forming a series of higher tops and higher bottoms, which indicates bullish sentiment. Rising volumes over the past three to four weeks signify increased participation at lower levels.The stock is well placed above its 20-, 50-, 100-, and 200-day simple moving averages (SMAs). These averages are also inching higher along with the price rise, which reconfirms bullish sentiment. The daily, weekly, and monthly RSI remains in favourable territory, indicating rising strength across all time frames.Strategy: BuyTarget: Rs 320, Rs 335Stop-Loss: Rs 290Zydus Lifesciences | CMP: Rs 1,011.7On the daily and weekly timeframes, Zydus Lifesciences witnessed a short-term trend reversal around the Rs 960 level. On the daily chart, the stock also decisively surpassed the “multiple resistance” zone near Rs 960, acc...